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Tag: U.S. and China slash tariffs
U.S. and China Slash Tariffs in 90-Day Truce: A Legal and Policy Analysis of the Temporary Trade Reset
On May 12, 2025, the United States and China announced a significant de-escalation in their ongoing trade conflict. In a surprising turn of events, both the U.S. and China Slash Tariffs in 90-day Truce, reducing reciprocal tariffs that had previously reached unprecedented levels. The U.S. lowered tariffs on Chinese goods from a peak of 145% to 30%, while China reduced its tariffs on U.S. imports from 125% to 10%. This agreement, reached during negotiations in Geneva, aims to provide temporary relief to global markets and businesses affected by the prolonged trade war .